halfmarshall.bsky.social
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“The stunning increase in wealth amounts to a gain of roughly $1 billion per day for those billionaires.”
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“Despite a brief market scare, the richest 10 Americans got $365 billion richer over the past year, according to a new analysis from Oxfam.
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“Allowing cuts to Medicare would probably come with dire political consequences. Trump on the campaign trail swore off reducing Medicare benefits, and Republicans have pointedly excluded cost-cutting from the program as part of their tax and immigration package.”
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“Those reductions are not a foregone conclusion. Congress could instruct the White House budget office to disregard the reconciliation package’s debt impact, pass new legislation to reduce the deficit or change federal budget scorekeeping rules.
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“In that scenario, Medicare cuts would be capped at 4 percent annually, or $490 billion over 10 years, the CBO reported in response to a request from Rep. Brendan Boyle (Pennsylvania), the top Democrat on the Budget Committee.
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“When legislation significantly adds to the national debt, which already exceeds $36.2 trillion, it triggers ‘sequestration,’ or compulsory budgetary reductions.
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“forcing budget officials to mandate across-the-board spending cuts over that window that would hit the federal health insurance program for seniors and people with disabilities.
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“Trump and the GOP’s budget reconciliation package — officially titled the One Big Beautiful Bill Act — would add $2.3 trillion to the deficit over 10 years, the Congressional Budget Office projected, …
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“President Donald Trump and congressional Republicans’ mammoth tax and immigration bill would add so much to the national debt that it could force nearly $500 billion in cuts to Medicare beginning in 2026, Congress’s nonpartisan bookkeeper reported late Tuesday.
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Most likely forever.
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👀
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“The utilities ‘either need to socialize the cost to other ratepayers or absorb that cost — essentially, their shareholders would take the hit,’ said Ben Hertz-Shargel, who is the global head of grid edge research for Wood MacKenzie.”
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“The rest of the costs would be borne by other utility customers or the utility itself.
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“In almost all of those cases, the firm found, the money that large energy users paid to electric utilities would not be enough to cover the cost of the equipment needed to serve them.
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“The report by Wood MacKenzie, an energy research firm, examined 20 large power users.
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“That’s because the cost of the power plants, transmission lines and other equipment that utilities need to serve data centers, factories and other large users of electricity is likely to be spread to everybody who uses electricity, according to a new report.
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“Individuals and small business have been paying more for power in recent years, and their electricity rates may climb higher still.
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"And it signals the uneven impact the tariffs are having on reshoring American manufacturing — Trump’s stated goal for raising rates to the highest levels in a century." www.politico.com/news/2025/05...
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"To the contrary, economic development officials and lawmakers from several states say that the uncertainty fueled by Trump’s on-again, off-again trade wars is keeping many foreign businesses from pouring money into the U.S. market right now.
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Indeed!
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"Seven weeks later, after receiving the FAA’s blessing to proceed, SpaceX launched Starship 8 from Boca Chica, Texas, but it too exploded after liftoff. Air traffic in the region was diverted, and burning streaks from the falling rocket were visible in the sky from the Bahamas and Florida’s coast."
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"After the explosion in January, residents of the Turks and Caicos reported finding pieces of the rocket on beaches and roads. A car was also damaged in the Starship 7 accident.
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"Of particular concern to British officials is the public’s safety in the British Virgin Islands, Anguilla and the Turks and Caicos Islands — all of which could face debris risk from Starship 9.
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"Growing the number of launches of the most powerful rocket ever built is a priority for SpaceX head Elon Musk, who is also one of President Donald Trump’s closest advisers.
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"The worries from the U.K. government, detailed in a letter to a top American diplomat on Wednesday, follow the Federal Aviation Administration’s decision last week to grant SpaceX’s request for a fivefold increase in the number of Starship launches allowed this year, from five to 25.
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"British officials told the U.S. they are concerned about the safety of SpaceX’s plans to fly its next Starship rocket over British territories in the Caribbean, where debris fell earlier this year after two of the company’s rockets exploded, according to documents reviewed by ProPublica.
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Original source: www.axios.com/2025/05/18/t...
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"“Some consumer prices will likely rise due to tariffs, Treasury Secretary Scott Bessent acknowledged on Sunday, even after the White House publicly warned retailers against it.” politicalwire.com/2025/05/18/b...
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politicalwire.com/2025/05/18/b...
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Original source: www.politico.com/news/2025/05...
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"The only trade that means anything is the individual who buys something. That’s the only real trade. And that by very definition, if it’s voluntary, is mutually beneficial, or the trade doesn’t occur.”
— Sen. Rand Paul (R-KY)